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AU question

New Contributor

AU question

I asked this question before my sister filed for BK; I was not sure when she will file and she did finally filed this month and I am an AU on her HSBS Levitz account, although this account is in good standing with zero balance, how will this affect my credit score?  Do I ahve to dispute this account with CB's?

I guess I should have ask her to remove me as AU before she filed....

Thanks!

Amex (3), Chase (2), Cap One(2), USAA (1), NFCU (1), Citi (2) Nordie Store Card, VS, BB Store card and HD store card......
Message 1 of 6
5 REPLIES
Senior Contributor

Re: AU question

If this account has a zero balance it will not be included in the BK and it may survive the BK unless they take adverse action (close it) because of her BK.  Hopefully she can keep it to help keep a surviving account for its age and history.

 

As an AU, there is no impact on you if is has zero balance and no derog comments.  If this had a balance and was going to be included in the BK, then you would want to have yourself removed and then dispute the item with CRA's.  But if I understand correctly, I don't see where you need to do anything.  You can have her ask her BK attorney the question to put your mind at ease, though.

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 2 of 6
New Contributor

Re: AU question

Hi txjohn,

Thanks for you response.

Her account was close per HSBC - this account has a clean record with no derog with no balance.  Will this affect my score or util?

 

Amex (3), Chase (2), Cap One(2), USAA (1), NFCU (1), Citi (2) Nordie Store Card, VS, BB Store card and HD store card......
Message 3 of 6
Senior Contributor

Re: AU question

Well, if there are no derogs and it is only closed and not included in the BK, then it will continue to count toward your AAoA for the next 10 years....so for now, just let it stay put.

 

If anything changes on it down the road, you can always have an AU removed.  We need to remember that we don't have to worry if our FICO changes here and there for minor adjustable things.  We only need to spit polish and press the uniform for inspection (going for new credit).  Until then, just use the credit basic strategies that build good credit.  And don't worry about the AU unless it develops a problem, then just have it removed.

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 4 of 6
New Contributor

Re: AU question

Thank you so much txjohn..  Smiley Happy
Amex (3), Chase (2), Cap One(2), USAA (1), NFCU (1), Citi (2) Nordie Store Card, VS, BB Store card and HD store card......
Message 5 of 6
Highlighted
Senior Contributor

Re: AU question

Twas a pleasure Smiley Happy

 

We all come here initially to get info.....it's only fair to share what you learn here and through hard knox!

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 6 of 6